Supply chain chaos as India’s cash flow is suddenly cut off in a bid to beat corruption

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Supply chain chaos as India’s cash flow is suddenly cut off in a bid to beat corruption

By Justin|
2016-12-05T13:34:52+00:00 December 5th, 2016|feed news|Comments Off on Supply chain chaos as India’s cash flow is suddenly cut off in a bid to beat corruption

India’s transport and logistics industry has been left scrambling by Prime Minister Narendra Modi’s sudden and unexpected decision to ban the issue of 500- (US$7) and 1,000-rupee banknotes.
According to the All India Motor Transport Congress, which represents 9.3m truckers, 70% of its members’ vehicles have been forced off the road as operators struggle to pay truck drivers their wages and find the petty cash needed to cover fuel and other costs.
The cash-crunch …